India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
While the chemicals ministry, which drafted the policy, is the administrative ministry for the pharma industry, quality regulation and marketing approvals come under the purview of the health ministry. Agriculture Minister Sharad Pawar, who heads the GoM, asked health and chemicals secretaries to sort out the issues and get back to the GoM at the earliest.
The government on Tuesday said it is considering forming a venture capital fund of Rs 2,000 crore (Rs 20 billion) to promote research and development (R&D) in the pharmaceutical sector.
Sun Pharma, Bajaj Finserv, Tata Consultancy Services, Infosys, Hindustan Unilever, JSW Steel, Wipro, Maruti, HCL Technologies, Tech Mahindra and ICICI Bank were the other major gainers. State Bank of India, Tata Motors, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Tata Steel, Nestle and HDFC Bank were the laggards.
South-east Asian countries are emerging as preferable destination for India's pharma companies to expand their business as they share similar patient population and disease profile and moreover, have a conducive environment for their operations like easy market approach without any regulatory uncertainty, the survey of Indian pharma firms highlighted.
RIL is grappling with other priorities -- sliding oil prices, shrinking refining margins and a battle with the Anil Ambani group over the supply of gas. The plan was to build an integrated pharma company in two to three years, on the lines of large domestic majors such as Ranbaxy's or Dr Reddy's Laboratories. Instead, the plan has been modified to being a start-up bulk drug manufacturing company that will launch six bulk drugs or active pharmaceutical ingredients by 2010.
Swedish firm Astra Pharmaceutical will buy out the remaining less than 10 per cent stake in its local arm Astrazeneca Pharma India by next year following approval from the Foreign Investment Promotion Board.
Justice Jamdar then said that the bench will grant relief to Bhamare in the two cases where his bail pleas had been rejected, while the police are restrained from arresting him in the fourth and the fifth cases.
Reduction in customs duty on certain bulk drugs used in making life saving drugs to 5% is a positive for companies having product pipeline catering to these segments.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
Mutual funds (MFs) lapped up shares of new-age businesses in April at a time when most of these stocks have recovered sharply from their 52-week lows. Nykaa and Zomato featured in the list of top 10 most bought shares by MFs last month, with fund houses' holdings in these two stocks rising by over Rs 1,100 crore, shows a report by Nuvama Alternative & Quantitative Research. Shares of Zomato had staged some recovery in April after remaining subdued for an extended period.
The Promed group manufactures and delivers branded as well as generic pharmaceutical formulations to Russia, CIS, south-east Asian countries, the UK and EU.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Revenues and earnings to improve for companies with low forex liabilities and no forward cover.
According to Amitabh Arora, chief representative, Think London, "The agency will help Indian companies enter business agreements with 100-odd biotech and pharma companies and about 50 contract research organisations based in London besides arranging private equity from London-based PE firms.
Indian pharmaceutical companies, which always wanted a big share in the global copycat drug market, are betting high on the oral contraceptive (OC) market in America.
Dinesh Thakur is famous for exposing Ranbaxy safety problems
Looking at the behavior of the Indian stock markets in the last one month, one gets a feeling that it has again proved to be the proverbial conundrum, something extremely difficult to predict in the short term.
Acquisition to boost its generics business in developed markets.
Post Ranbaxy episode, domestic pharma companies may face frequent inspections and deeper scrutiny.
Industry must take strong collective action to protect the reputation it enjoys in global markets, says Kiran Mazumdar Shaw.
Multinational drug manufacturers such as Pfizer and DSM are increasingly getting into contract manufacturing alliances with emerging bulk drug makers in the country, bypassing established players such as Ranbaxy and Dr Reddy's.
Indian IT service providers are increasing their exposure in the healthcare and pharma segments. Multi-million dollar deals in this space by IT firms over the past three-four months only buttress this trend. Healthcare outsourcing has moved away from just undertaking medical transcription and business process outsourcing (BPO) work to core functions such as drug discovery, testing, research and development.
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
Supreme Court will give its verdict on April 1 on whether Swiss giant Novartis AG's cancer treatment drug Glivec deserves a patent in the country not it doesn't.
Members of the IMA and IPA had met Mansukh Mandaviya on Monday and expressed their concerns over the regulations.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
According to industry estimates, the sector's revenue would increase eight-10 per cent in 2013-14, against 12 per cent in 2012-13.
In 2012, employers looked most for professionals in IT or software services, FMCG industries and BPO or ITES, followed by real estate and pharmaceuticals or life sciences to fill mid or senior positions.
Drugmaker Aurobindo Pharma on Monday said it has entered into licensing and supply agreements with London-based pharmaceutical giant AstraZeneca to supply several solid dosage and sterile products for emerging markets.
BSE Healthcare index slumped by nearly 2% followed by counters like Consumer Durable, Banks, Oil & Gas and PSU shares, all falling down by 1% each.
The rapidly progressing Indian pharma industry, assisted by a strong research and development base, skilled manpower, low-cost base and manufacturing excellence has provided the industry with the right platform to move towards achieving its goal.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
From the Sensex pack, Sun Pharma, Maruti, Tata Motors, ITC, Nestle, Larsen & Toubro, Infosys, Asian Paints, Titan, Tech Mahindra, Power Grid and Reliance Industries were the major gainers. Bajaj Finance, Axis Bank, HCL Technologies, State Bank of India, HDFC, HDFC Bank, ICICI Bank and Bajaj Finserv were among the laggard from the 30-share pack.
The numbers are the highest ever in the history of domestic drug discovery initiatives triggered by companies such as Dr Reddy's and Ranbaxy over a decade ago.
Regulator likely to probe possible violation of insider-trading norms.
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